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' tax rates are going up. the americans paycheck will get a lot smaller. that would be the wrong thing to do for our economy. it would hurt middle-class families and it would hurt the businesses that depend on your spending. and congress can prevent it from happening, if they act now. leaders in congress are working on a way to prevent this tax hike on the middle class and i believe we may be able to reach an agreement that can pass both houses in time. but, if an agreement is not reached on time, i will urge the senate to hold an up or down vote on a basic package that protect the middle tax from the income tax hike, extends vital unemployment insurance and lays the groundwork for future progress on more economic growth and deficit reduction. i believe such a proposal could pass both houses with bipartisan majorities, as long as these leaders allow it to come to a vote. they still want to vote no, let tax hikes it the middle class, that is their prerogative. but they to let everybody else vote as well. that is the way this is supposed to work. we just cannot afford it politically self
that would let taxes rise on the wealthiest households while protecting the vast majority of americans from tax hikes set to hit in january. welcome to the saturday edition of "and the washington journal." for the first 45 minutes of the program we are going to be talking about senate negotiating a fiscal clifts deal, what has been going on on that half of the capital. see what they are talking about and how things are going. we want to get your input and your part of the conversation. you can reach out to us on twitter. facebook, facebook.com/cspan. and you can send us an e-mail. this is more from the article, the lead story in "the washington post." they ride, the development marked a breakthrough after weeks of paralysis. joining us by phone is one of the authors of that article, and, laurie, welcome to the program. tell us, what kind of a deal did the president offered? what is new in the negotiations among the senators and between the senators and the white house? caller: there does not appear to be anything new. the policies they are talking about are the senate has been on the table
the fiscal cliff that includes no tax increases. sbainer boehner and other republican leaders have been too scared about suffering publicly if the nation goes over the cliff and the tax sbikeses that are triggered in january. now that the plan b has failed these conservative republicans should be empower you ared to make big demands and stop caving to the president out of fear." guest: that doesn't make much sense to me. you have to get it through the house republicans then the president has to sign something, if that doesn't happen then you have very large tax increases a lot more than what they were talking about in their negotiating and you have the defense cuts that happen overtime and some other, nondefense cuts. you really have this huge amount of revenue, a lot of debt reduction. it is hard to see what demands the republicans can think will be easier to make come the new year. guest: plus, we've seen the president's approval level is at a high. and the poll should show that the republicans are going to be blamed if we go over the cliff and taxes go up. that is before the debacle with
with president obama and signals conservative republicans are inwilling to stomach any rise in tax rates even on those making more than $1 million which was mr. boehner's plan. so walk us through what happened on friday. how did we get there? and it seems like the speaker of the house didn't see this coming, and a lot of folks in washington want to know why not? guest: we begin the week with the speaker of the house saying negotiations between he and president obama had stalled. they were stuck on their -- i guess i would say maybe not their final offers but current offers. boehner said he would raise taxes on those making a million a year or more and get all told $1 trillion in tax increases which he wanted to be matched with $1 trillion in spending cuts and the rate increases on those making $1 million or more and remove loopholes and deductions to get the rest in revenue and then you had your spending cuts. the president, sort of depends on how you do your math and counting, but the president -- by scoreible math the president would have been at $1.3 trillion in tax increases and $900 bil
that protects the middle class from an income tax hike, extends vital unemployment insurance for americans looking for a job, and lays the groundwork for future progress. such a proposal could pass both houses with bipartisan majorities, as long as these leaders allow to come to a vote. if they still want to vote no, that is their prerogative. but they should let everybody else vote as well. that is the way this is supposed to work. we cannot afford a politically self-inflicted wound to our economy. the economy is growing. the folks you sent to washington have to do their jobs. the housing market is healing, but that could stall if folks are seeing smaller paychecks. unemployment rate is lowest it has been in 2008, but already families and businesses are starting to hold back because of the disfunction they see in washington. you meet your deadlines. you meet your responsibilities every single day. the folks you sent here to serve should do the same thing. we cannot let washington politics get in the way of america's progress. we've got to do what it takes to protect the middle class, prot
as many americans as the president will permit, or we can end up at an impasse that ensures taxes go up on everyone. let us pass this bill. if it does not work, let us pass whatever level the president will agree to. is not as if we have not repeatedly warned him. my conservative colleagues say sparing some people these tax increases is tantamount to racism among others. a lifeguard who sees 10 swimmers drowning, if he can only save nine, that does not mean he has drowned the 10th one. no lifeguard would be worth his pay if he said, my principle is nobody should drowned off my beach. if i cannot save them all, i will not save any. americans watched as thousands of middle-class jobs are sacrifice on the ideological obama next year, this country will be a lot wiser. until then, let's save the weekend. >> the done in's time has expired. >> i am pleased to yield three minutes. >> the gentleman from michigan is recognized for 3 minutes. >> this is an important moment. these bills move the nation dangerously closer to the cliff. with only 11 days before our nation will go over. they make find
. -- he appeared with eric cantor. this is about 10 minutes. >> the house did not take up the tax bill last night because we did not have the votes to pass. it is not the outcome that i wanted. was the will of the house. unless the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in 10 days. the house has already passed bills addressing the fiscal cliff. we passed a bill replacing the president's sequestered with irresponsible spending cuts. we did that last may. we passed a bill to stop all the tax hikes on the american people scheduled to take effect january 1, and we did that august 1. and we proposed plans over and over again that democrats used to support but now will not. i do not want taxes to go up, republican do not want texas to go up. but we only when the house. democrats continued to run washington. what the president has proposed so far simply will not do anything to solve our spending problems. he wants more spending and more tax hikes that will hurt our economy. and he simply will not dea
: the president is getting higher taxes if we go over the cliff and he can go back and change the tax rate for those making $250,000 or less. the speaker saying it has to be $1 million or above. the president much more in the driver's seat. guest: yes and no. let's say we go over the cliff and that's the markets are in a panic and people have paychecks that have less money in them. people will not necessarily blame john boehner. they will blame the president. he has political capital that could evaporate. i'm not sure if he gets what he wants -- that is not how american politics necessarily works. host: what led to this meeting? harry reid was sounding pessimistic early in the day. then john boehner calling the house back sunday evening with a vote scheduled after 6:00 p.m., setting up a late sunday session or a lot of fireworks on monday. guest: the redskins-cowboys game is on sunday night. each side staked out a public position it had to stake out. use it at the end there's a sentence saying, but we will talk or negotiate. nothing unusual here to me. i think right now they are doing what
that immediately. senate democrats saying we passed a bill that raises tax rates on incomes over $250,000, we ran on this and this is what we are offering. house republicans were saying, no, we want to negotiate something, figure it out and send it to us. someone is going to have to move. who? the president met with senate majority leader harry reid before going to hawaii and his offer was to extend the tax cuts for incomes under $250,000, extend unemployment insurance benefits, and the lady across the board automatic cuts that are supposed to start january 1. that seems to be a non starter with republicans. it's hard to see where we go from here. host: have they been talking over the christmas break at all? also, one has been the role of senator mitch mcconnell? guest: the line that comes from the speakers office all the time is the line of communication remain open. i don't know how much talking they did as the president was in hawaii spending time with his family and the speaker was back home in ohio, i believe. i don't know that for sure. everyone was doing their family time and not really wo
of america. that's why you've heard so much conversation about raising taxes. you raise taxes on the top 2% and you almost overnight, within the first 12 months, eliminate about 700,000 new jobs. you tack that on top of the regulatory reform, you're talking another 800,000 jobs "lost in america." so that's 1.5 million more americans out of work on top of 23 million americans. that's not the right direction. so my objective would start with a conversation of tax reform and spending control. >> \[inaudible] >> i would think that most americans are members of the tea party principally. we believe in limited government. we believe in lower taxes. we believe in keeping the government out of your pockets. if you believe in freekts, -- free markets, those are the basic tenets of the tea party. i would hope we all believe in that. that would be a decisive yes. >> \[inaudible] >> you look at his scorecard with the heritage action. he was a 98 and i was closing in on i think it was a 090. there was a couple that separated us, maybe some of the more well-known votes. other than that, i'm not quite su
one of the funny things that is going on with the tax rate situation is that everyone is talking about this as a new revenue. president obama says his plan would produce x dollars more than boehner's plan. both of them are talking about extending tax cuts for 98% of the people. but the main loss of revenue to the government according to a current law is. that is why the caller said we need to go over the cliff. i'm surprised that many callers were willing to go over the cliff. she mentioned that would be a chance for a recess, i think that is part of what is going on with people who believe they want to go from the republican standpoint, if you go over the cliff and the tax rates go back up, you instantly thought and the tax base. it also means more taxpayers are paying. instead of having 50% of taxpayers having no liability because their income is too low and because of deductions, you have a higher percentage that are pain and a broader base. you have more people to start sweating out more money from. once you do these spending cuts, then you decide from the standpoint of, we h
this year. we are helping those families by freezing the council tax and by making sure that we help families with the cost of living. >> ed miliband. >> mr. speaker, we both pay tribute to workers and volunteers, but i never thought the big society was about feeding hungry children in britain. the problem is working people are turning to food banks. one head teacher of a teacher rated at standing says that even children with a parent or parents in work are often struggling with the choice between heating their homes, buying their children clothes, or buying them food. a report last week by the children's society said that 2/3 teachers were providing people with food or money to prevent them going hungry. mr. speaker, why does he think is happening, and why does it appear to be getting worse on his watch? >> i agree. we do have to do more to help the poorest in our country. that is why we have lifted the personal tax and have taken 2 million of the lowest paid people and remove tax altogether. if you take someone who is on a minimum wage to works full- time, because of the tax change
. at a news conference with the speaker in a call to extend the tax rates. some have urged congressman tom price of georgia to challenge john deere for the job. much more on what is next for the fiscal cliff. one week before we reach that point. the deadline is december 31, january 1. the president is in hawaii. the house and senate are also in set -- in session this week. elliot engel, weighing in on a number of topics, including rumors that former republican senator chuck a bill could be nominated as defense secretary. you heard from the president on friday as he nominated senator john kerry as secretary of state and the new speculation about chuckle over at the pentagon. here are the comments of congressman dingell, the incoming democratic member of the house foreign affairs committee. but there is a huge opposition to the potential nomination of chuckled to become the next secretary of defense, even the president obama has not made his decision. the former senator has come under fire for statements he has made, including one where he referred to the pro-israel lobby as the "jewish lobb
for the economy. and the transaction tax is being taken very seriously in europe and probably will happen there, even though the u.k. is kicking and screaming because they specialize in being the home of trading, whether trading in stocks or derivatives or anything else. they simply do not want that to be taxed. there are people in congress. i think wall street is now the number-one contributor to political campaigns. at least, it is in the running for number-one. i have been to washington many times and i'm involved with several groups that are trying to reform the business sector so that it can work, so that it can survive. it is very difficult because of the sheer amount of money that the finance sector in particular is pouring into lobbying and campaign contributions. it is very difficult. >> let's give a round of applause for lin. -- lynn. [applause] there is an opportunity for you to purchase and have the but signed. if you have court-further questions, she will be here signing books. thank you all and have a safe trip home. [captioning performed by national captioning institute] [caption
, there are well down the light. they won the taxes now. by the time the cuts come in, this ought to be turned around and it was said, we do not need the cuts now that if it has turned around. host: lots of comments coming in of this but so far. one caller rights -- sarasota, florida on the line now. good morning, jill. caller: did morning. i have only one very short thing to say. listen, everyone out there. no matter what party believe in, they're used to be a wonderful country in africa called rhodesia. we are talking about african problems, but it was a bread basket country. produce things. now it is called zimbabwe. inflation is over 1000%. that is all i am going to say to the people watching and listening to this program because we are heading in the same direction. thank you and have a wonderful new year. host: a tear from bob now in the democrat light. caller: thank you for letting me have a chance to speak. i am more optimistic -- i a more pessimistic than optimistic. i just do not think they will ever get together like they should. my one comment is when they start speaking about the
to extend tax cuts for most americans. his remarks came as congress leaves washington without a plan to avoid the fiscal cliff. the president said he hoped any deal to avoid the fiscal cliff would also include and extension of unemployment insurance and lay this is about 7 minutes. >> good afternoon, everybody. for the last few weeks, i have been working with the leaders of both parties on a proposal to get our deficit under control, to avoid tax cuts -- to avoid tax hikes on the middle-class. and to make sure we can spur jobs and economic growth. a balanced proposal that cuts spending, but also ask the wealthiest americans to pay more, a proposal that will strengthen the middle class over the long haul, and our economy over the long haul. in the course of these negotiations, i offered to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spending. today, i am still willing to get a comprehensive package done. i still believe that reducing our deficit is the right thing to do for the long-term health of our economy and the confidence of our
the president. this is personal. this has nothing to do with raising taxes. this is a personal attack and i think it's a shame. we look like a third world country. we don't look like the united states. host: let's get a republican voice. our next caller is calling from west bloomfield, michigan, on the republican line. good morning. caller: i would like to get your thoughts on a balanced approach and have unbiased taxation by using a flat tax. that way you can calculate the amount of taxes we need for the deficit over 10 years. another point is to control the spending on entitlements by not giving millionaires social security benefits, thereby satisfying president obama's approach. instead of doing it through taxation, he can do it through the entitlements. guest: those are both ideas that have been raised, especially the social security and medicare benefits for the wealthy and potentially might not need them to live off of. one tricky part of that is wealthier americans have been paying these taxes for decades into social security and medicare if and a lot of folks have a problem with the
is -- but shouldn't crease -- shouldn't greece all its own tax collection? >> let me start with the last question before i start giving out financial advisor. [laughter] greece certainly should focus on dealing -- not so much with tax collection, but what i call tax immunity. they have a very cozy system of tax immunity. the tragedy is when you have an economy like greece's going to a tailspin and you have a massive immunization of national income, and the central bank is effectively kaput, you can really improve your tax collection methods because there is no income tax. people just do not make money any more. even the rich do not make money. other than the money they have already accumulated through geneva or frankfurt. they are not making money. how can you improve your tax mechanism when there's no income to tax? that is the second question. the first question -- i am not worried about inflation at all. in this country, there is this fixation with quantitative easing. bernanke's attempt to stabilize the american economy. it is a policy that i have encountered ever since i came to this countr
on democrats to try to counter that immediately. senate democrats saying we passed a bill that raises tax rates on incomes over $250,000, we ran on this and this is what we are offering. house republicans were saying, no, we want to negotiate something, figure it out and send it to us. someone is going to have to move. the question is, who? the president met with senate majority leader harry reid before going to hawaii and his offer was to extend the tax cuts for incomes under $250,000, extend unemployment insurance benefits, and the lady across -- and then delay the across the board automatic cuts that are supposed to start january 1. that seems to be a non starter with republicans. it's hard to see where we go from here. host: have they been talking over the christmas break at all? also, one has been the role of -- what has been the role of senator mitch mcconnell? guest: the line that comes from the speakers office all the time is the line of communication remain open. i don't know how much talking they did as the president was in hawaii spending time with his family and the speaker was bac
's alternative that would have raised taxes on annual incomes of more than $1 million. this is about one hour. >> i'm not doing a sesame street skit here. this is what we're talking about. i think about planning a which is what the majority in the house of representatives has been trying to implement. it is very simply a plan designed to put into place that democrats and republicans say they support. that is meaningful, strong, bold plans for a simple, fair tax code. the president supports tax reform and taking the top from 25% to 30%. majoritysay we in the have been trying to put into place a real, meaningful tax reform that can ensure people can reduce rates and generate domestic growth. the trouble with that is our plan a has been designed to bring about a reduction of size and scope and the reach of the federal government. everyone knows what that means. real entitlement reform. plan a consists of two simple things. pro-growth tax reform that will keep taxes low for individuals and job creators, and small businesses in this country, so we can encourage that kind of job creation which we a
, the end of the bush era tax cuts, the dreaded sequester, across the board cuts of $1.2 trillion in spending will begin to take effect the first of next year. the good news is the white house and republicans have been trading proposals and at least yesterday appeared to be moving closer together. i would have much preferred that they would be talking about a bigger package than they've discussed but nonetheless to reach a package that would resolve some of these issues would be an important step forward and i think help promote certainty that would be important to our economy. on the revenue side of the equation, i just want to remind you what it's taken in the past to balance the budget. we hear talk on average revenue is in the 18% of g.d.p. range n. getting back to average you will should be sufficient. the problem with that is we have never balanced the budget in the last 50 years based on 18% of g.d.p. in revenue. balancedtimes we've going back to 1969, you can see that revenue has been about 20% of g.d.p. you can see from this chart. 19.7% of g.d.p. in 1969. 1999 it was 19.
with the president's position that both sides should avoid tax hikes on middle-class americans. also, nra executive said the group would not support any new gun laws in this country. good morning this monday, december 24, 2012. we will begin this morning with your thoughts on religion and politics. as a religion influence your political decisions? also send us your tweet if you go to twitter.com -- we will begin with the sunday review section of the "the new york times" yesterday. we want to get your take on this. it does religion influence your politics? with more people saying they are unaffiliated. we want to get your take. here are some comments from facebook this morning. what are your thoughts on this december 24, 2012. it does religion influence your politics? let me show you this from "the new york times" this morning. a new poll out worldwide religion shows up that one out of six follows no religion. that is worldwide. all religions outside the united states as well. the upi story. religious identity affect voter choice. and then on the 2012 election, here is the pew forum on religion and
. that alone is a hidden tax people do not focus on unless it is pointed out to them. it raises the cost to everyone else. the fact never gets talked about. should. >> the largest government health care program, medicare, is reported to have brought levels -- fraud levels as high as $64 billion a year. you can imagine the frustration on the part of the public. why has the city never been able to get its arms around that level of fraud and abuse and what does it say for the expansion of government? >> it is expensive to weed out the fraud and abuse. it takes a lot of government time and money. i do think it is worth doing. we do not do it nearly enough. but it has been something -- government, at times, is wasteful in what it does not do as much as it is in what it does do. it never is risen to the top level as i think it should and hope it does. one of the reasons i did not want a government-run option is because that would have been a dumping ground for another government program to provide insurance and move away from the private market. i believe in the private market for insurance. t
with his tax cuts. i think he had that real nice, soft personality, a very warm guy who knew what it was to be poor and to fight your way out of difficult things. but he was also a man who had convictions. he was willing to go to the mat if he had to. a good man. the best i knew. >> does the presidential nominating process bring candidate in to this system with conviction, with the kind of skills you think it takes to be a successful president? >> i do not mean to disparage anybody who has run for office but i think there is too many people running for office who are concerned about politics in getting elected than doing what is really right. i feel like ronald reagan was one of those guys who had a commitment in his soul to do what he thought was best for the country, and not to worry about being partisan all the time and being worried about the next election. and so i think right now we have too many people that when they run for office they read the polls and they try to do what they think is going to get elected instead of saying what they believe and i think it is time now th
is restricting jobs and tax base. i would encourage people to get involved in your institute and fight this because it is not doing anything for the economy or our country. merry christmas to everybody. host: john, thank you for the call. what is the history of the cato institute, founded in 1977? guest: it was founded to promote liberty and economic freedom, starting in san francisco, and then move into washington, d.c. milton friedman admitted the kindle institute has never sold out. we still work for liberty and freedom. i've been working with the cato institute since 1995 and full time since 2007. host: mary, fort washington, maryland. democrat. caller: i would suggest thinking that if you follow all of the problems come at the end of the trail you will find the smiling grin of greed. that is what i think caused it. for myself, naca program helped us, taking us out of the ugly arm. my mortgage is $964 a month, which will allow us to stay in our home comfortably. guest: people blame things like a financial crisis on greed, but greed is not changing. it has been with us for hundreds
bachelor degrees. the grant pays for itself in the decade. that increased federal income tax rate, it pays for the cost of the po grant. half of the students are not traditional students, but the half that are, they have a typical work load. yet 10 years to pay back the government for the cost of a grant. then there is a 14% return on investment. it is not as much of an advance from the federal government. we should stop thinking about this as being purely a personal benefit to the students. and there is all sorts of good that comes from higher education. there is a lot of good that stems from a college education and as a society, we should be putting the highest possible priority on it. we get what we sow, and you need to be thinking about where we want our society to be in a few decades, and the way to that, and ever improving society is through education, not cutting the one thing that is a real investment. >> another thing i would say, i will give you an example from a parent loan situation. if you get a client, you fail this credit check. you get about $4,000 extra in student loans. i
't crease -- shouldn't greece all its own tax collection? >> let me start with the last question before i start giving out financial advisor. [lghter] greece certainly should focus on dealing -- not so much with tax collection, but what i call tax immunity. they have a very cozy system of tax immunity. the tragedy is when you have an economy like greece's going to a tailspin and you have a massive immunization of national income, and the central bank is effectively kaput, you can really improve your tax collection methods because there is no income tax. people just do not make money any more. even the rich do not make money. other than the money they have already accumulated through geneva or frankfurt. they are not making money. how can you improve your tax mechanism when there's no income tax? that is the second question. the first question -- i am not worried about inflation at all. in this country, there is this fixation with quantity -- quantitative easing. bernanke's attempt to stabilize the american economy. it is a policy that i have encountered ever since i came to this country.
rosenberg of the tax policy center. >> i like the congressional hearings, i like all the stuff about the educational stuff, all the policy-making situations. i think it is a great thing the washington, d.c. has all these things and c-span covers these. >> c-span, created in 1979 as a public service. >> james glanz is an investigative reporter with the "new york times." mr. glanz, what is an internet datacenter? >> it is a place where all the information you sent out from your communicatocomputer or mobe goes into process and storage. >> how big are these centers? >> there actually colossal. their colossal in the amount of electricity they use. some use as much electricity as a medium-sized town. it is a very secretive industry. they tend to be hiding in plain sight. littlees you'll see diesel generators on the side. those are backup power supplies. and it is a data center. >> were those located at the road they're all over the place. they're in high rises in cities, in greenfield sites out in suburban areas, there tucked away in the back of offices. they are the way that most commerc
are at the point where in four days every american's tax rates are scheduled to go up by law. every americans' paychecks will get considerably smaller. that would be the wrong thing to do for our economy, it would be bad for middle-class families, and it would be bad for businesses that depend on family spending. congress can prevent it if they act right now. i just had a good and constructive discussion here at the white house with leadership about how to prevent the tax hike on the middle class. i am optimistic we may reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak, but if an agreement is not reached in time between senator reid and senator mcconnell, then i will urge senator reid to bring to the floor a basic package for an up or down vote to protect the middle class from an income tax hike, extends the vital lifeline of unemployment insurance to 2 million americans looking for a job, and lays the groundwork for future cooperation on more economic growth and deficit reduction. i believe such a proposal could pas
, not only in terms of the tax base and property values, but also in terms of neighborhood safety, is devastating to communities. that is why it is critical that we start this process as soon as we can, because this type of disaster could take 4-10 years of rebuilding. we have seen that in mississippi. in mississippi, we are still working with the state to provide assistance to homeowners. we cannot wait longer to start the process. >> is it fair to say that a delayed recovery is a failed recovery? >> a delayed recovery is a failed recovery. a recovery that does not allow communities to plan for their range of needs, understanding that it may take 5-10 years to recover, we would also say is a failed recovery. >> administrator, taking off from the comments about the regional economy in the context of the national economy, transportation is a critical element of getting people to work, to be part of the work force at their jobs, being able to move the economy. i think sometimes we think maybe in other parts of the country the transit is some type of luxury, but is it not essential t
. >> happy holidays. >> unless president obama and congress take action, tax rates will go on everyone on gingrey first. the day after that, and mandatory sequester will go into effect -- january 1st. the day after that, and mandatory sequester will go into effect. on the 10th of may, we pass legislation that would replace the sequester which irresponsible spending cuts. the events of this past week make clearer than ever that these measures reflect the will of the house. the american people reelected president obama on election day. the also elected a republican majority in the house. they give us all the mandate. not a mandate to raise taxes on families of small businesses, and meant it for us to work together to begin solving the massive debt that threatens our future. the president and senate democrats have vowed to reject an veto all of our proposals waffling to offer responsible solutions of their own. -- proposals while failing to offer responsible solutions of their own. instead, he wants more spending and more tax hikes that will hurt our economy. he refuses to challenge the m
financed? guest: it has been a self funded program. it is funded by payroll taxes. there's a 12.4% tax on wages up to about $110,000. you make more than that then any money you make over that is not taxed for social security. it is divided equally between your employer and the worker. for the past two years, the workers share has been reduced. that has saved, by the way, if you are an average worker that is $1,000 tax cut. host: we can see in this pie chart where that money comes from. payroll taxes making nearly 83% and interest and taxation of benefits. we see the payouts. benefits, 90% of the money spent goes to benefits and administrative expenses and retirement. what are some of the other numbers we're seeing? guest: the interest is from the trust fund. so when the last time social security in 1983 they put in a system that generated more money in tax revenue than were being paid out in benefits. a trust fund was built up. so when social security had that additional money, the treasury holds it. they invest it in treasury bonds and those bonds earn interest. that is where that big
the end to avert shutdowns and the like. they together have averted a tax hike last december. it is an interesting fact that the senate, even though it is normally seen as the body that cannot get anything done, it has more bipartisanship right now, and there is more of an incentive for the senators to try to get something done. house members are more polarized. they are worried more about primaries than general elections. the best case scenario here is that the senate does craft a compromise that both parties can live with, and it is take it or leave it to the house right up until the deadline, and you figure enough democrats and republicans come together to send it across to the white house. >> stephen dennis, thank you so much for your time. >> absolutely. >> here are president obama's remarks from the white house earlier today. afterwards, we will hear from senators reid and mcconnell from the senate floor. [captions copyright national cable satellite corp. 2012] [captioning performed by national captioning institute] >> good afternoon, everybody. for the past couple of m
, on pure research. in other words, i want you to take my tax payer money and go out and try to do something that you may not be able to do. in fact, i call it research only if half the people think is impossible. if most of the people think it is possible, then you are doing development. you are not a research organization. if you took anybody out of nasa, out of engineering, i don't care if they were head of nasa or a secretary or a shop guy, when jfk got up and said 21 days after alan shepard made this little flight, that we are going to go to the moon before 1970, everybody jumped up and down. you know why? multi-year funding. wow, we are going to have jobs for nine years. yes, we can do it. this is cool. we will beat the russians. everybody was real excited. grab any person, taking into a private room and locked the door and say to him, what is your net worth? tell me what you are worth. and then ask him a question. would you bet everything that you are worth that we will actually do that, go to the moon and back safely before 1970? you would have gotten a small minority. therefore, by
for the republicans that i thought they were putting enough pressure on candidate romney than to reveal his taxes. how much pressure was put on and what was the end the decision on him not revealing his taxes over the years like his father had? thank you. host: it was a self-enforced error by the romney campaign. guest: perversely the 47% video began to overshadow that. guest: it was a huge matter of debate during the primary season, but they realized it had to be put out because it was becoming a distraction so he decided to put out one year of taxes. this gets to the issue of him being an intensely private man who was never comfortable with his wealth and he never wanted to reveal the top wealthy he was. that was always his posture. a lot of the campaign staff wanted him to do it. he just did not want to talk about these matters. in his mind, he was thinking like an operative. the more fodder i give in terms of my tax returns, the opposition is only going to use it to throw it away. guest: have we ever had a candidate that had so many "no fly zones" in his life that he did not want to talk about? gu
. i thought, back there in mojave are 400 employees and their families and everyone of them pay taxes. you know, only half the people in the country paid taxes. every one of those people play it -- pay taxes. they would not have been there. that relieves the burden on all the other taxpayers. the government job burdens the other taxpayers. to me, that kind of struck me as something as a significant personal accomplishment. i never realized or even thought about that until after i retired. ok, let me find the clicker and we will get going. let's try the button. ok. we are going to talk about manned space flight. the first flight we are going to talk about is that wonderful first nine years, at eight years really. the boss docked, upper left -- this chart shows every one of the launch systems developed in the world during that short time. there are nine launch systems designed and flown during that time. bostok, the red stone, the atl as, the x-15, then gemini, the system, the russian soyuz. and my favorite -- the lunar lander. it is great to have a large system where you do not need a
that my political hero had to be bernie sanders. he started talking about not paying taxes on the high end. i say bernie sanders got it right. ask anybody about the rich paying taxes. that's the problem right there. we need to take our fight to the top like it is supposed to be. obama should stand his ground. he tried to lead and they told him no. let's get that fixed and the bottom will come up. that's what they mean by a rising tide raises all boats. host: what makes a hero politically in your mind? wisconsin on the independent line. caller: mine would be governor chris christie from pennsylvania. host: new jersey? sorry. i'm and booker. host: cory booker. caller: they differ, their politics. they do not hate each other. they are trying. like the others i see, they do not like -- if a democrat does it, they do not like it if you are a republican. as long as it comes from congress, they do not like it. host: talk a little bit -- who in the past would be political heroes to you? caller: in the past? the guy from south africa. nelson mandela. look what he did. the idea of using soccer. that
is the september 11 tax on the u.s. mission and an x in benghazi. -- attacks on the u.s. mission and annex in benghazi. three other officials were placed on administrative leave. it may or may not be disciplined. are you satisfied that the investigation is done? >> the most important thing is not whether or not the president called it a terrorist attack or anything like that. the most important thing is to nsure that no, benghazi's happen in the future. there were plenty of mistakes to report. in the future, that the coordination is better and we do not make the same mistakes. that is the most important thing. it was a mistake for mitt romney to use this as a political thing during the campaign. i think foreign policy should be bipartisan to the extent that is possible, and in a time of tragedy, americans need to rally around -- rally together and not try to use it for political, partisan purposes. we need to dissect it, see what happened and make sure it never happens again. there were recommendations that were made, and secretary clinton accepts all of them. we have to make sure that our
was considering of legislation to abolish: tax. erred when against it. -- to abolish coal tax. byrd voted against it. byrd tried to explain he was not opposed to the intent of the legislation, but it goes against the state rights. therefore, congress cannot step byrd said to do it right. he said he could not vote on it if it was going to be done this way. two years later, congress comes back with a constitutional amendment and byrd voted for it. he voted for it once they did it right with a constitutional amendment. he filibustered, it is true. there was a 14 hour filibuster. read through the thing. everyone points out him being racist. read throughout the filibuster. there is not one racial thing. the whole thing is basically constitutional law. he makes clear to make it right before he can support it. agrees that there should be no discrimination in the standards. the objective sought -- the objective here is a worthy one. he concurs with the objective. here he is talking about literacy tests. he opposed them- on that measure. it proposes two different ways to do this constitutionally. that is
tax cuts as he had promised he would in 2008. there were a lot of reasons for liberals to feel disappointed with the lack of progress on those issues, but we never really saw that in the polling. we would ask liberals how they felt, and we would get strong support almost all the time. one time we even try to go further. we said to you have a favorable or unfavorable oppression of obama? all the democrats with a favorable. -- would say favorable. can you think of anything obama has done that you are disappointed with? he really had a level of support of the base that was very solid. that is not to say there were not disappointments, but to the extent they existed, once the republican primary process got started and really got raging, if there were any doubts among liberal democrats, why they wanted obama to win, the conversation that occurred during the republican primary broker out the base as to why this was a political election. .he fact that it wrongl we did not see any real evidence of any falloff. in the exit poll 25 percent call themselves liberal. it was 22% four years a
taxes on investment. it is a way to spur investment. saying that, in the city of jewish right we have an extraordinarily high number of people who have lost hope because they are not working. they're out the metropolitan region -- throughout the metropolitan region we have thousands of job better going unfilled because they cannot find people qualified to be hired into those jobs. we have a skills gap in detroit as well as in this country. i know you understand these economic challenges we are facing. how you feel investing in assets innovation would help us close that gap? >> i in the first university graduate in my family. the only reason i studied science and came to this country because the commitments this committee has made. i believe that power of investments that come from these have a tremendous effect on the youth on the young high school student who is making decisions for her career and the future that she has in front of her. i do believe the inspiration aspect of nasa is an important part. once we get them through the high schools and universities, i believe the defers p
of the tax, the compound and not have all the security features -- attacks, the compoundn did not have all the security features it needed. the inadequacy of the diplomatic security staff in numbers in benghazi would be a major factor behind the weakness of the security platform. the continued rotation of d.s. agents inhibited the development of on the ground knowledge and continuity and security decisions and implementation. the question is not simply whether an additional number of agents would have made a difference. the question is whether a sustained and stronger staffing platform in benghazi over the course of 2012 could have established some deterrence by giving it the continuity and experience on the ground by making it harder target for terrorists. absence of a strong central government presents in benghazi meant the special mission had to rely on a militia, with skill deficits. overall, the board found the security systems and procedures were implemented properly by american personnel. ecosystem's themselves and the libyan response fell short on the night of the attacks -- those
from the automatic spending cuts that go into effect in january and deal with a saner tax system. we can follow a framework as recommended by the simpson- bowles commission that will allow us to protect benefits but will also make some of the tough choices that kelly was talking about. i think we have to put everything on the table for that kind of a deal. we have to look at revenues. we have to look of the domestic side of the budget. we of the look of the defense -- we have to look at the defense side. and we have to look at the mandatory program. i think we do have to make some tough choices. but i also believe that getting that done will provide tremendous certainty for businesses in this country, for families so they know what we are expecting. and that that will really give our economy a shot in the arm, and get money off the sidelines and allow business to invest in with that creates jobs. that is what we need to do for the future. now, the other party that i have been working on and that we have made some progress but we will continue is the country's energy policy. my focus
into the government help to build better roads, better schools, and keep taxes lower. that's an opportunity i hope we can have in south carolina. and when states can control more of their transportation and infrastructure dollars that can be more efficient and do much better than we are or what we can do now under the federal regime, so the principles of freedom are working all over the country. we need to spotlight them, showcase them, communicate them all over the country, so that people see that these ideas work and at the same time, they're going to be able to look to washington over the next few years and see that the ideas that are in place are not working. they're dragging us down. and so when washington hits a wall, which we know they will, the friends of freedom here in south carolina and all over the country are going to be ready not with political ideas, but with american ideas. ideas that we know are working and can point to and show that they're working for 100% of americans. that's what i'm going to be doing the next few years. i'm not getting out of the fight, i'm raising my game, and
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